Mahindru Hospital Account Assistant Interview Questions and Answers

Bank reconciliation is the process of comparing the bank statement with the company's accounting records to ensure they match.

• Bank reconciliation helps identify discrepancies between the bank statement and the company's accounting records.

• It involves comparing the ending balance on the bank statement with the ending balance in the company's general ledger.

• Items that may cause discrepancies include outstanding checks, d...read more

Outstanding receivables refer to the amount of money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

• Outstanding receivables are also known as accounts receivable.

• They represent the money that a company is owed by its customers.

• They are recorded as an asset on the company's balance sheet.

• The longer an outstanding receivable remains unpaid, the greater the risk that...read more